Country Club Bank Sells 1,975 Shares of The Bank of New York Mellon Corporation $BK

Country Club Bank cut its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,266 shares of the bank’s stock after selling 1,975 shares during the quarter. Country Club Bank’s holdings in Bank of New York Mellon were worth $11,513,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bennett Associates Wealth Management bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $276,000. SteelPeak Wealth LLC increased its stake in shares of Bank of New York Mellon by 1,270.5% in the 2nd quarter. SteelPeak Wealth LLC now owns 47,364 shares of the bank’s stock valued at $4,315,000 after acquiring an additional 43,908 shares during the last quarter. Mraz Amerine & Associates Inc. increased its stake in shares of Bank of New York Mellon by 5.2% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 20,370 shares of the bank’s stock valued at $1,856,000 after acquiring an additional 1,000 shares during the last quarter. Confluence Wealth Services Inc. increased its stake in shares of Bank of New York Mellon by 1.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock valued at $1,072,000 after acquiring an additional 111 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $6,982,000. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore ISI upped their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. TD Cowen started coverage on Bank of New York Mellon in a research note on Thursday, September 25th. They set a “buy” rating for the company. Truist Financial increased their target price on Bank of New York Mellon from $109.00 to $118.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Citigroup increased their target price on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company increased their target price on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $106.77.

Bank of New York Mellon Trading Down 0.1%

NYSE:BK opened at $106.46 on Tuesday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $110.87. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average price of $104.71 and a two-hundred day moving average price of $93.21. The company has a market cap of $75.08 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm posted $1.51 EPS. The business’s revenue was up 9.4% on a year-over-year basis. As a group, analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were given a dividend of $0.53 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, July 25th. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. Bank of New York Mellon’s payout ratio is currently 32.37%.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the sale, the executive vice president owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.